Gav-yam Lands Corp. Ltd · TASE:GVYM
Gav-yam Lands — Q2 2026 Earnings Presentation
41 slides from Gav-yam Lands's earnings presentation, Jun 30, 2026
Slide 1: Presentation for the Capital Market Q2 2026 Summary
Presentation for the Capital Market Q2 2026 Summary
Slide 2: Data in summary H1 2026
Data in summary H1 2026 Q1 2026 Summary NOI NOI increase NOI for shareholders 410 12.3 % 329 Company data ILS million ILS million same property NOI increase EBITDA EBITDA increase Projects under development 6.4 % ILS 382 million 12.7 % FFO for shareholders per Residential management approach* 232 Fi
Slide 3: Data in summary H1 2026
Data in summary H1 2026 Q1 2026 Summary income-generating areas value of income-generating properties occupancy rate 1.3 13.4 ILS billion 97 % Company data ILS million m2 avg. duration of rental agreements income-generating properties value of investment real estate Projects under development from i
Slide 4: Data in summary H1 2026
Data in summary H1 2026 Q1 2026 Summary net financial debt liquid assets available utilized credit facility credit facility ILS ILS 10,095 805 390 125 Company data ILS million ILS million million million weighted avg. effective non-pledged properties Bond rating Projects under development interest,
Slide 5: Data in summary – NOI (ILS millions)
Data in summary – NOI (ILS millions) Q1 2026 Summary 1-6.2026 1-6.2025 % change *825-845 2026 759 forecast NOI 410 365 12% 692 2025 *660-680 Company data 2024 606 2026 NOI for shareholders 329 292 13% 553 2025 forecast 2024 Projects under development 4-6.2026 4-6.2025 % change NOI 208 186 12% NOI fo
Slide 6: Data in summary – FFO for shareholders
Data in summary – FFO for shareholders (ILS millions) Q1 2026 Summary 1-6.2026 1-6.2025 % change FFO per management approach 232 212 9% Company data *450-460 FFO per Israel Securities 163 128 27% 2026 Authority approach 432 forecast 407 FFO per Projects under development 2025 management 4-6.2026 4-6
Slide 7: NOI and FFO forecasts for 2026-2028
NOI and FFO forecasts for 2026-2028* (ILS millions) Q1 2026 Summary NOI for shareholders FFO for shareholders per normalized Q4 management approach normalized Q4 52% 940-960 840-860 Company data 50% 690-710 640-660 632 580-600 Projects under development 465-485 440 Residential 2025 2026 2027 2028 20
Slide 8: Company data
Company data Simulation for illustrative purposes only
Slide 9: Projects under development
Haifa Q1 2026 Summary Afula Tirat Carmel 18 Caesarea Herzliya Raanana Company data Tel Aviv high-tech, logistics and industry parks Holon 97 15 Projects under development Beer Yaakov Lod Rehovot Ness Ziona % Modiin Jerusalem occupancy rate cities nationwide Residential Financial data Beer Sheva * Su
Slide 10: Distribution of investment real estate value
Distribution 31 March 2026 of investment real estate value Q1 2026 Summary Income-generating real estate* 13,369 ILS million Real estate under construction Investment real estate value 3,373 Company data ILS million 17,851 ILS million 19% Projects under development 75% 6% Residential Land Financial
Slide 11: Income-generating property value
Income-generating 31 March 2026 property value Q1 2026 Summary 6.6% rate of return 1.3 million m2 80% Company data high-tech parks and offices 16% logistics and industrial Projects under development ILS 13,369 milion Residential 4% Financial data retail 11
Slide 12: Home to the world's largest companies
Q1 2026 Summary Company data Projects under development Residential Financial data 12 Home to the world’s largest companies
Slide 13: Sustainability
Q1 2026 Summary Sustainability Company data Renewable Green Energy Projects under development energy construction centers EV charging Constructing energy PV installations storage facilities Residential Natural gas Water connection recycling Financial data 13
Slide 14: Renewable energy
Renewable energy Q1 2026 Summary Company data Energy centers Photovoltaic facilities Matam Park 54 systems Projects under development 14,200 cooling tons Total capacity 11.2 MW Gav-Yam Negev Park 3,000 cooling tons Residential Financial data Energy storage facilities Green electricity Constructing 3
Slide 15: LEED rating system projects
LEED rating system projects Q1 2026 Summary Company data Projects under development Gav-Yam Hebrew Campus Matam East Towers Gav-Yam Center Herzliya Pituach TOHA Residential Gav-Yam Rehovot #5 Gav-Yam O2 Herzliya Gav-Yam Negev #4 Gav-Yam Negev #5 Gav-Yam Raanana Financial data Simulation for illustra
Slide 16: Real increase in rent H1 2026
Real increase in rent H1 2026 Q1 2026 Summary In H1 2026 the company executed 84 lease agreements, with respect to an aboveground area of 69,000 m2 generating ILS 62 million per annum. Renewal contracts 4.0% Options exercised Company data real increase 4.3% real increase Projects under development 5
Slide 17: Real increase in rent Q2 2026
Real increase in rent Q2 2026 Q1 2026 Summary In Q2 2026 the company executed 28 lease agreements, with respect to an aboveground area of 19,000 m2 generating ILS 19 million per annum. Options exercised 6% Company data real increase Projects under development Tenant turnover 35% 2% 46% Renewal contr
Slide 18: Projects under development
Projects under development Simulation for illustrative purposes only
Slide 19: Projects under development
Projects under development Approximately 258,000 m2 consolidated Q1 2026 Summary As of the date of the report the company has marketed 51% of all aboveground areas in the projects under development. Should agreements currently in advanced negotiation stages be signed in TOHA2 and Matam East Towers #
Slide 20: Projects under development – consolidated
Projects under development consolidated Q1 2026 Summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total Holding rate Total costs as of 30 Jun Completion date leasing revenue aboveground aboveground (including land) 2026 IL
Slide 21: Projects under development – expanded standalone
Projects under development expanded standalone** Q1 2026 Summary Annual Rate of Revenue for Construction Costs balance representative marketed marketed Project name Aboveground Parking Total costs as of 30 Jun Completion date leasing revenue aboveground aboveground (including land) 2026 ILS millions
Slide 22: Planned projects
Planned projects Approximately 190,000 m2 consolidated. Q1 2026 Summary Company data Projects under development Matam Park – laboratory building Tel Aviv – Lot 103 in the Tara Campus TOHA 3 10,000 m2 aboveground 80,000 m2 approved building rights 80,000 m2 (company’s share) 7,000 m2 parking of which
Slide 23: Acquisition of Lot in the Tara Campus
Acquisition of Lot 103 Q1 2026 Summary in the Tara Campus lot area 4,600 Company data m2 approved building rights 88,000 Projects under development m2 offices 63,000 m2 Residential residential units 230 Financial data The company holds 85% of the rights to the area and is conducting negotiations wit
Slide 24: Residential
e RESIDENTIAL
Slide 25: Residential projects
Residential projects Q1 2026 Summary Status Project name Units (total) Units (company’s share) Projects under construction and marketing TRUE Tel Aviv – Dafna – complex 505 232 102* (incl. 21 rental units) Tel Aviv – Dafna – complex 501 391 171* (incl. 35 rental units) Tel Aviv – Lot 103 Tara Campus
Slide 26: TRUE Tel Aviv – Dafna complex 505
פרויקט בהקמה ושיווק Q1 2026 Summary TRUE TEL AVIV - 505 מתחם-דפנה-אביב-תל residential units 232 (of which 156 residential units for marketing) retail 300 Company data m2 expected profit ILS 95 million Projects under development residential units sold 79 units expected revenue ILS 841 milli
Slide 27: Residential projects – short term
Residential projects – short Projected 1-3 years until commencement of development term Q1 2026 Summary Company data Kiryat Ono – Hannah Szenes* Herzliya North #1 Tel Aviv – Dafna – Complex 501* Tel Aviv – Lot 103 – Tara Complex Projects under development 53 residential units 300 residential units 1
Slide 28: Residential projects – long term
Residential projects – long Projected 4+ years until commencement of development term Q1 2026 Summary Company data Haifa – lot 8001 Rehovot Holon 175 residential units 540 residential units 945 residential units Projects under development Tel Aviv – Dafna – Complex 502* Kiryat Yam #1, #2* Acre 88 re
Slide 29: Financial data
Financial data
Slide 30: Financial results H1 2026 (ILS millions)
Financial results H1 2026 (ILS millions) Q1 2026 Summary H1 2025 H1 2026 476 445 425 412 410 Company data 388 395 365 368 346 Projects under development 232 212 163 128 Residential Revenue from rental NOI SAME PROPERTY Increase in fair value of Net profit for FFO for shareholders per FFO for shareho
Slide 31: Financial results Q2 2026 (ILS millions)
Financial results Q2 2026 (ILS millions) Q1 2026 Summary Q2 2025 Q2 2026 291 280 242 Company data 241 239 216 208 186 190 179 Projects under development 108 118 44 47 Residential Revenue from rental NOI SAME PROPERTY Increase in fair value of Net profit for FFO for shareholders per FFO for sharehold
Slide 32: Growth in NOI and FFO for shareholders (ILS millions)
Growth in NOI and FFO for shareholders (ILS millions) Q1 2026 Summary 660-680 606 553 533 Company data 459 450-460 432 432 401 407 329 Projects under development 313 292 253 232 212 Residential 2021 2022 2023 2024 2025 2026 1-6.2025 1-6.2026 )Forecas( Financial data NOI FOR SHAREHOLDERS FFO FOR SHAR
Slide 33: Shareholder equity and dividends (ILS millions)
Shareholder equity and dividends (ILS millions) Q1 2026 Summary 5,183 4,906 4,515 4,205 3,976 Company data 3,611 Projects under development Residential 570 260 275 305 290 120 Financial data 31.12.2021 31.12.2022 31.12.2023 31.12.2024 31.12.2025 30.06.2026 Shareholder dividends Equity for shareholde
Slide 34: Financial strength
Financial strength Q1 2026 Summary Weighted capitalization rate Weighted effective interest 6.95% 6.76% 6.73% 6.64% 6.58% 6.30% Company data spread from weighted cost of debt 4.35 Projects under development % spread from marginal 2.30% cost of capital* 2.29% 1.77% 1.47% Residential 1.43% 4.1 1.26% %
Slide 35: Financial debt
Financial debt Q1 2026 Summary Gross financial debt 10,900 Company data ILS million weighted avg. effective 84% Projects under development interest, index-linked 16% 2.29 % ILS fixed ILS 1,744 million Residential average duration index-linked 9,156 3.6 ILS million Financial data years 35
Slide 36: Debt principal repayment schedule (ILS millions)
Debt principal repayment schedule (ILS millions) Q1 2026 Summary 3.1% 2,485 Company data 2.8% 1,491 2.6% 2.6% Projects under development 1,238 1,215 2.4% 2.4% 2.4% 1,005 980 980 2.8% 725 2.8% 2.9% 390 Residential 262 129 Financial data 7-12.2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Weig
Slide 37: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Consolidated 1-6/2026 1-6/2025 [% change] NOI 410 365 12 Same Property NOI 368 346 6 Company data Fair value increase of investment real estate 388 445 )13( Financing costs, net(1) 157 142 11 Projects under development Tax costs 124 126 )2( Net profit fo
Slide 38: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Shareholder share*(1) 1-6/2026 1-6/2025 [% change] NOI 329 292 13 Same Property NOI 288 273 5 Company data Fair value increase of investment real estate 328 365 )10( Financing costs, net 143 132 8 Projects under development Tax costs 98 97 1 Net profit f
Slide 39: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Consolidated 30/06/2026 31/12/2025 Liquid assets 805 772 Fair value of investment real estate of which: 17,851 16,879 Income-generating real estate 13,369 13,200 Company data Real estate under construction 3,373 2,949 Land 1,109 730 Other properties 1,55
Slide 40: Financial data (ILS millions)
Financial data (ILS millions) Q1 2026 Summary Shareholder share* 31/06/2026 31/12/2025 Liquid assets 783 607 Fair value of investment real estate of which: 15,172 14,309 Company data Income-generating real estate 11,027 10,925 Real estate under construction 3,210 2,823 Land 935 561 Other properties
Slide 41: Forward-looking information
ה Forward-looking information current state of company’s areas of activity, This presentation includes forecasts, fields of activity, and macroeconomic facts and assessments, estimates and other information data, all as known to the company at the time of relating to future events and matters, whe